Your simple guide to changes to the Superannuation Guarantee

Legislation to increase the Superannuation Guarantee (SG) rate to 12% was introduced in 2014.

Under the current legislated timetable, the SG rate will increase from 10% to 10.5% as of 1 July 2022.

This change will impact all Australian employers, including those in the WA public sector.

Here’s what you need to know.

The SG rise applies to all employers

As an employer, you have an obligation to pay SG payments on behalf of all your eligible employees.

For WA public sector employers, this applies to all employees regardless of earnings.

The State Government's requirement that SG be paid on additional items continues to apply.

What you can do to prepare

There are some steps you can take now to make sure your agency is prepared for the SG increase.

You could consider taking the following actions:

• Check with your payroll provider to review how the SG increase will be implemented and what costs may be associated with the change
• Review your Human Resources systems to determine if any changes are needed to these platforms and how much time would be required to implement them
• Identify key employee documents that reference the current SG rate, and which may need to be updated following the SG increase